Residential Air Purifiers Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0206451
  • Format: Electronic (PDF)
  • Number of Pages: 198
  • Author(s): Joshi, Madhavi

Report Overview

The Residential Air Purifiers Market size was estimated at USD 8.5 billion in 2023 and is projected to reach USD 15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.40% during the forecast period (2024-2030).

Residential Air Purifiers Market

(Market Size)
$8.5 billion
$15 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.40%
2023 Market Size USD 8.5 billion
2030 Market Size USD 15 billion
Key Players Honeywell, Philips, Sharp, Coway, Blueair

Market Summary

The residential air purifiers market is a dynamic segment within the broader machinery and equipment industry, characterized by increasing consumer awareness of indoor air quality and health implications. These systems are designed to remove contaminants such as dust, pollen, pet dander, smoke, and volatile organic compounds from the air within homes. The market has seen steady growth due to rising pollution levels, heightened health consciousness, and technological advancements in purification technologies. Key players are continuously innovating to enhance product efficiency, reduce energy consumption, and integrate smart features for user convenience. The demand is further propelled by urbanization, changing lifestyles, and the growing prevalence of respiratory ailments, making air purifiers an essential household appliance in many regions. The competitive landscape is intense, with numerous manufacturers vying for market share through product differentiation, strategic partnerships, and expansive distribution networks.

Key Highlights

The residential air purifiers market is distinguished by several key highlights that underscore its significance and growth trajectory. Technological innovation remains a central theme, with advancements such as High-Efficiency Particulate Air (HEPA) filters, activated carbon filters, ultraviolet germicidal irradiation, and ionizers becoming standard features in many models. The integration of Internet of Things (IoT) capabilities allows users to monitor and control air quality remotely via smartphones, enhancing user experience and convenience. Energy efficiency has also become a critical focus, with manufacturers developing products that consume less power while maintaining high performance. Additionally, the market is witnessing a surge in demand for multifunctional units that combine air purification with humidification or aromatherapy features. The competitive intensity is high, with leading companies investing heavily in research and development to introduce cutting-edge products that meet evolving consumer preferences and regulatory standards.

Drivers, Opportunities & Restraints

The growth of the residential air purifiers market is driven by several factors, including deteriorating air quality in urban areas, increasing incidence of respiratory diseases such as asthma and allergies, and rising consumer disposable income. Public awareness campaigns and government initiatives promoting indoor air quality further bolster market expansion. Opportunities abound in emerging economies where urbanization and industrialization are accelerating, leading to heightened pollution levels and greater health concerns. The development of smart home ecosystems presents another significant opportunity, as air purifiers can be integrated into connected home environments. However, the market faces restraints such as high product costs, which may limit adoption in price-sensitive regions. Additionally, the presence of low-quality, counterfeit products can undermine consumer trust and pose challenges for established brands. Regulatory hurdles and varying standards across different countries also complicate market entry and product compliance.

Concentration Insights

The residential air purifiers market exhibits a moderately concentrated competitive landscape, with a mix of global giants and regional players dominating various segments. Companies like Honeywell, Philips, Dyson, and Sharp have established strong brand recognition and extensive distribution networks, giving them a competitive edge. These players often focus on innovation, quality, and marketing to maintain their market positions. Regional manufacturers, particularly in Asia Pacific, cater to local preferences and price points, intensifying competition. The market concentration is influenced by factors such as technological expertise, patent holdings, and strategic alliances. Mergers and acquisitions are common as companies seek to expand their product portfolios and geographic reach. Despite the presence of numerous competitors, the top players collectively hold a significant market share, driven by their robust research and development capabilities and strong customer loyalty.

Type Insights

Residential air purifiers are available in various types, each utilizing different technologies to cleanse indoor air. High-Efficiency Particulate Air (HEPA) filters are among the most popular, capable of trapping particles as small as 0.3 microns with high efficiency. Activated carbon filters are used to adsorb gases, odors, and chemical vapors, making them ideal for households with smokers or pets. Ultraviolet (UV) purifiers employ germicidal lamps to destroy microorganisms like bacteria and viruses, providing an additional layer of protection. Ionic purifiers release charged ions that attach to airborne particles, causing them to settle out of the air. Some advanced models combine multiple technologies for comprehensive air cleaning. The choice of type often depends on specific needs, such as allergen reduction, odor elimination, or microbial control, with consumers increasingly opting for multifunctional units that address multiple concerns simultaneously.

Application Insights

Residential air purifiers are primarily used in homes to improve indoor air quality and create healthier living environments. They are commonly deployed in bedrooms, living rooms, and kitchens, where occupants spend significant time and where pollutants may accumulate. In households with infants, elderly individuals, or members suffering from respiratory conditions, air purifiers are considered essential for mitigating health risks. Additionally, these devices are used in home offices and studies to enhance productivity by providing cleaner air. With the rise of remote work, the demand for air purifiers in residential settings has further increased. Some consumers also use them in basements, garages, or other areas prone to dampness and mold. The application scope continues to expand as awareness grows and products become more affordable and feature-rich.

Regional Insights

The residential air purifiers market demonstrates distinct regional dynamics influenced by factors such as air quality levels, economic development, consumer awareness, and regulatory frameworks. North America and Europe are mature markets with high adoption rates, driven by stringent air quality standards and health-conscious populations. The Asia Pacific region, particularly China and India, represents a rapidly growing market due to severe air pollution in urban centers and increasing disposable incomes. Latin America and the Middle East and Africa are emerging markets where awareness is gradually rising, and demand is fueled by urbanization and health concerns. Regional preferences also vary; for instance, consumers in Asia often favor compact and aesthetically designed units, while those in North America may prioritize advanced features and brand reputation. Manufacturers tailor their strategies to address these regional nuances, ensuring product relevance and competitiveness.

Company Insights

Prominent companies in the residential air purifiers market include Honeywell International Inc., Philips Electronics N.V., Dyson Ltd., Sharp Corporation, and Coway Co., Ltd. These industry leaders are known for their innovative product offerings, strong research and development capabilities, and extensive global presence. Honeywell is recognized for its robust and reliable air purification systems, often incorporating HEPA and carbon technologies. Philips focuses on user-friendly designs and smart features, such as connected apps and real-time air quality monitoring. Dyson stands out with its bladeless fan technology integrated into purifiers, offering both air circulation and purification. Sharp leverages its Plasmacluster ion technology to neutralize pollutants and allergens. Coway, a South Korean company, emphasizes sleek designs and multifunctional units. These companies continuously invest in innovation and marketing to strengthen their market positions and cater to evolving consumer demands.

Recent Developments

The residential air purifiers market has witnessed several recent developments aimed at enhancing product efficacy and user experience. Many manufacturers have introduced models with improved filtration technologies, such as enhanced HEPA filters that capture ultrafine particles more efficiently. The integration of artificial intelligence and machine learning allows purifiers to automatically adjust settings based on real-time air quality data, optimizing performance and energy use. Smart features have become more prevalent, with products offering voice control compatibility through assistants like Amazon Alexa and Google Assistant. There is also a growing emphasis on sustainability, with companies developing eco-friendly materials and energy-star rated products. Partnerships between air purifier brands and health organizations or tech companies have increased, fostering innovation and expanding market reach. These developments reflect the industry's commitment to addressing consumer needs and environmental concerns.

Report Segmentation

The residential air purifiers market report is segmented based on various criteria to provide a comprehensive analysis. By technology, the market is divided into HEPA, activated carbon, ionic, UV, and others, each catering to specific purification needs. The application segment includes standalone units and combined units with additional features like humidification or heating. Distribution channels encompass online retail, offline retail, and direct sales, with online platforms gaining prominence due to convenience and wider product availability. Geographically, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, highlighting regional trends and opportunities. Further segmentation may consider price range, covering economy, mid-range, and premium segments, reflecting diverse consumer purchasing power and preferences. This detailed segmentation enables stakeholders to identify growth areas and make informed decisions.

FAQs

What are the benefits of using a residential air purifier? Residential air purifiers offer numerous benefits, including the removal of airborne pollutants like dust, pollen, pet dander, and smoke, which can improve indoor air quality and reduce health risks such as allergies and respiratory issues. They also help eliminate odors and harmful volatile organic compounds, creating a fresher and healthier living environment.

How does a HEPA air purifier work? A HEPA air purifier works by forcing air through a fine mesh filter that traps harmful particles such as pollen, pet dander, dust mites, and tobacco smoke. The HEPA filter is designed to capture at least 99.97% of particles that are 0.3 microns in size, making it highly effective for improving indoor air quality.

What is the average lifespan of an air purifier filter? The average lifespan of an air purifier filter varies depending on usage and air quality but typically ranges from 6 to 12 months. Pre-filters may need replacement every 3 months, while HEPA and carbon filters last longer. Manufacturers often provide guidelines based on operational hours or air quality conditions.

Are air purifiers effective against viruses and bacteria? Yes, certain air purifiers equipped with HEPA filters, UV-C light, or ionizers can be effective against viruses and bacteria. HEPA filters can capture microorganisms, while UV-C light and ionizers can neutralize or kill them, reducing the spread of airborne illnesses in residential settings.

What factors should be considered when choosing an air purifier? When choosing an air purifier, consider factors such as room size, filter type (e.g., HEPA, activated carbon), noise level, energy efficiency, additional features (e.g., smart controls, air quality sensors), and maintenance costs. It's also important to assess specific needs, such as allergy relief or odor removal.

Can air purifiers help with allergies and asthma? Yes, air purifiers can significantly help with allergies and asthma by removing allergens like pollen, dust mites, and pet dander from the air. Models with HEPA filters are particularly effective, as they capture fine particles that can trigger allergic reactions and asthma symptoms, leading to improved respiratory health.

Citius Research has developed a research report titled “Residential Air Purifiers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Residential Air Purifiers Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Residential Air Purifiers Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Residential Air Purifiers Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Residential Air Purifiers Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Residential Air Purifiers Market
• Research Methodology
• Executive Summary
• Market Dynamics of Residential Air Purifiers Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Residential Air Purifiers Market
• Cost and Gross Margin Analysis of Residential Air Purifiers Market
• Residential Air Purifiers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Residential Air Purifiers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Residential Air Purifiers Market Key Stakeholders

Below are the key stakeholders for the Residential Air Purifiers Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Residential Air Purifiers Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Residential Air Purifiers Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Residential Air Purifiers Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Residential Air Purifiers Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Residential Air Purifiers Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Residential Air Purifiers Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Residential Air Purifiers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Residential Air Purifiers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Residential Air Purifiers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Residential Air Purifiers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Residential Air Purifiers Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Residential Air Purifiers Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Residential Air Purifiers Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Residential Air Purifiers Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Residential Air Purifiers Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Residential Air Purifiers Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Residential Air Purifiers Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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